Business Decision Making Essay Example

Business Decision Making Essay Example Business Decision Making Essay Business Decision Making Essay Comprehensive Report with visual presentation and notes You are the Operations Manager for Abyil Ltd, a business strategy consultancy company. You are requested to submit a MIS report to the board of directors of your company. Your task is to prepare the necessary information for decision making using details provided below. Objectives: (Outcomes) 1. Use a variety of sources for the collection of data, both primary and secondary 2. Apply a range of techniques to analyse data effectively for business purposes 3. Produce information in appropriate formats for decision making in an organisational context 4. Use software-generated information to make decisions at operational, tactical and strategic levels in an organisation In your assignment you should consider: (assessment criteria) 1. 2. 3. 4. Review and evaluate inventory control systems in an organisation Prepare a spreadsheet to enable material requirements planning and calculate economic order quantities Prepare a project plan for an activity and determine the critical path Using data from a given business scenario, prepare a range of graphs using spreadsheets and draw valid conclusions based on the information derived Use trend lines in spreadsheet graphs to assist in forecasting for specified business information and thus inform decision making Create information for decision making by summarising data using representative values, and use the result s to draw valid and useful conclusions in a business context Analyse data using measures of dispersion, and use to inform a given business scenario Integrated with below Grading Guidance: 1. Brief explanations earns a PASS 2. Answers with relevant examples earns a MERIT 3. Answers with appropriate examples and comparative discussions / recommendations earns a DISTINCTION Oxford College of London Assessment format: This assessment should be in a form of a Management Report on Management Information Production. You should submit a set of print outs with appropriate notes and visuals to support your decision. Student should use appropriate referencing systems: Harvard Referencing Systems. (Details available at www. uwe. ac. uk/bbs/studyskills in core context. ) Level 5 Level 5 qualifications recognise the ability to increase the depth of knowledge and understanding of an area of work or study to enable the formulation of solutions and responses to complex problems and situations. Learning at this level involves the demonstration of high levels of knowledge, a high level of work expertise in job roles and competence in managing and training others. Qualifications at this level are appropriate for people working as higher grade technicians, professionals or managers. Level 5 qualifications are at a level which broadly compares to the level of demand, but not necessarily the volume of study, of intermediate higher education qualifications such as diplomas of higher education, foundation and other degrees that do not typically provide access to postgraduate programmes. Important Plagiarism, collusion and non-compliance with assessment regulations are offences under the awarding body regulations and where suspected will be thoroughly investigated under official procedures. Penalties may be imposed depending on the severity of the offence, as per the awarding body guidance. Appropriate citations of source documents are essential when presenting written/word processed work and it is crucial that you quote the books, journals, websites etc that you used whilst you carried out desk research. For full details on above facts please refer to student handbook and course hand book. Oxford College of London Critical Path Analysis 1 a) Find the Critical Path of the following network using the EST/LSTs Activity 1 2 3 4 5 6 7 8 9 10 11 12 Preceding Activity 0 1 1 1 2 3 5 2, 6 7, 8 3 4 9, 10, 11 Duration (days) 4 7 5 6 2 3 5 11 7 4 3 4 b) Calculate the float of the network 1 c) The standard deviation of the activities on the critical path in 1a) are: 1, 2, 1. 5, 3, 2. 5, and 3 respectively. Based on these values calculate the probability of achieving a schedule time of 40 days for the project duration. 2. A mail order company is analysing a random sample of its comp uter records of customers. Among the results are the following distributions: Size of Order ? Less than 1 1 and less than 5 5 and less than 10 10 and less than 15 15 and less than 20 20 and less than 30 30 and over total Number of customers April September 8 4 19 18 38 39 40 69 22 41 13 20 4 5 144 196 Required: 1. Using the MS Excel spreadsheet, calculate the Arithmetic mean, and standard deviation order size for the April sample. 2. Re-present the given data in two different graphs appropriate. Oxford College of London 3. a. Using the Ms Excel spreadsheet comment on the correlation coefficient for the information provided – Cost of Adverts and Additional Sales b. Using a RADAR graph, comment on the business performance relationship and advice accordingly for each month’s operation. Operational Month Jan Feb Mar April May Jun Jul Aug Sep Oct Cost of adverts Additional Sales ? 000 generated ? 000 15 25 24 65 25 50 30 35 35 15 40 42 45 28 88 20 70 22 75 15 4. You are to determine the stock policy for Expo Plc and have the following data: a. Cost of placing the orders and receiving delivery ? 50 b. Holding cost per unit of stock for one year ? 2. 40 c. Annual demand, certain and regular 48,000 units d. Estimated purchase cost per unit ? 1. 00 e. Delivery time after placing orders 2 weeks You are required to: a. Calculate the total cost of placing orders and holding stock if 25 or 100 orders are placed during the year. b. Determine the minimum cost using a simple EOQ model of Q=v2cd/h c. Calculate and comment upon the effect of a discount of 2. 5% for orders of 5000 units. Oxford College of London 5. Monday Tuesday Wednesday Thursday Friday Route 1 Route 2 Route 3 Route 4 Route 5 Route 6 Route 7 Route 8 Route 9 1286 1419 1509 1322 1128 1384 1505 1401 1362 1329 1103 1292 1457 1339 1485 1572 1292 1305 1410 1383 1227 1184 1429 1498 1517 1255 1262 1340 1401 1288 1359 1540 1322 1417 1132 1396 1277 1343 1596 1461 1235 1520 1485 1336 1426 The above data has been collected by a researcher who performed a primary research using observation method on the customers boarding buses over 5 days at bus station. a. Calculate the MEAN, MEDIAN, MODE using MS Excel spreadsheet for the week. b. Produce a radar chart using the MS Excel spreadsheet to identify the congested routes. c. Using an appropriate graph, identify a best trend line and comment the significant use of this for a business decision.